Revaluation of UAH is an action, having the goal to slow down slightly inflation in the country. The one more reason for enhancement of UAH, as the Head of “Fincom Asset Management” AMC Pavel Ruzhitskiy considers, is a planned changing of NBU approaches to formation of rate policy and to principles of setting of official currency rates. «However neither current dynamics, nor changes consequences can be named as unambiguous. The key reason is an increasing deficit of Ukraine payment balance current account. In 2006 it was 1,5 % of GDP, in 2007 –4,2 %, in the first quarter of 2008 – 9,4%. Revaluation of UAH will more increase such negative trend. By simple word, we are living on credit. Negative balance of foreign trade in first quarter of 2008 exceeded $5 milliard and has an evident dynamics to further growth. Revaluation of UAH will make worth the current situation, will have negative impact on export and consequently on export driven industries and companies. According to the economic rules Ukrainian goods will become more expensive for foreign consumers. The opposite concerns import. Debts, as it is known, should be repaid, and in currency of loan, i.e. in the foreign one», – by specialist’s word. By his opinion, it will cause, in certain moment, growth of ask for currency and, consequently, devaluation of UAH. Based on objective realities Mr. Ruzhitskiy forecasts returning of USD rate against UAH up to 5 UAH per USD in autumn
Property Time journal, №23 (16-22 June 2008)